From Theory to Practice: Applying Solicitation Practices in Procurement for Higher Education
Colleges and universities spend about a quarter of their operating budgets procuring goods and services to keep their schools running efficiently, which adds up to billions of dollars every year. Today, those dollars are under intense scrutiny as budgets tighten. Some schools are seeing significant budget reductions, and at the same time, prices continue to […]
What Is Solicitation in Higher Education Procurement?
As colleges and universities struggle with financial stress and budget challenges, there is mounting pressure on procurement teams to find innovative ways to lower costs. As many schools have cut programs and staff, there are few obvious answers left when it comes to cost control. Higher education institutions are turning inward, taking a more critical […]
The Ultimate Guide to RFP Contracts for Procurement Officers in Higher Education
Sarah has worked as a procurement officer at her college for the past eight years, and she was still at her desk past 7 o’clock—again. She sighed as she looked at the stack of papers on her desk and scanned the details of the Request for Proposal (RFP) she was putting together for new lab […]
Unlocking the Power of RFP Contracts for Higher Education Procurement Professionals
Procurement professionals in higher education face big challenges these days. For large institutions, there is significant pressure to reduce expenses despite rising prices. In smaller institutions, there’s often an overwhelming amount of work for a limited staff. For both, staffing shortages are increasing everyone’s workload. An efficient RFP contract process, coupled with the strategic use […]
Higher Education Financial and Procurement Management Strategies in a Changing World
More than 2,500 years ago, the Greek philosopher Heraclitus remarked that “change is the only constant in life.” His words still ring true today, especially in the landscape of higher education. Higher ed has been hit with a wave of challenges, including dealing with flat or declining enrollment, rising costs, online alternatives, and shifting attitudes […]
Higher Ed Financial Procurement Meaning During Changing Times in Education
Higher education has been in the news a lot lately, but not always for positive reasons. The high cost of education and more than $1.7 trillion in student loan debt have many questioning the value of a college education. Enrollment has plateaued. For some colleges and universities, incoming freshman enrollments are in decline. Inflationary prices […]
The Ultimate Guide to Financial Services Procurement for Higher Education Institutions
It’s no secret. Colleges and universities today have significant financial concerns. Procurement teams are facing increased pressure to lower costs and create efficiencies to reduce overhead. Yet, teams must continue to provide the goods and services institutions need to function smoothly. It can often feel a bit overwhelming, especially when you consider additional requirements necessary […]
Financial Services Procurement: Resources for Higher Ed Procurement Professionals
With increasing budget constraints and a tight focus on cost control, procurement teams are being asked to take on an even bigger role in higher education. Besides buying goods, procurement teams are increasingly focusing on data analysis to ensure they are maximizing budgets and meeting diversity, sustainability, and other college and university initiatives. In this […]
Spend Analysis in Procurement: Strategic Sourcing and Cost Savings for Higher Education
Procurement in higher education is a multibillion-dollar enterprise. Every year, colleges and universities spend billions on goods and services, from cutting-edge technology to office supplies and food services. With today’s renewed emphasis on cost control amid increasing budget constraints, procurement teams can be leaders in reducing costs. One area that can produce significant savings is […]
The Strategic Connection Between Sourcing and Procurement and Why it Matters
If you’re working in education today, you know the challenge. You’re tasked with providing high-quality services and optimizing diminishing resources. With increasing budget constraints and the high price of goods and services, a strategic approach to sourcing and procurement is crucial. You can no longer just renew contracts or go to the same suppliers without […]
